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Carrier Global CARR

Carrier Global scores weak on business quality (3.3 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$55.56Oct 10, 2026
Business qualityWeak
Next earningsOct 29, 2026, before the open
Insiders, 90 daysQuiet

Why it matters

  1. What Carrier Global does

    Carrier Global makes HVAC, refrigeration, and fire safety equipment, selling directly to building contractors and property managers.

  2. What it does best

    Carrier dominates commercial heating and cooling installation scale, backed by a gross margin of 24.7% that reflects deep manufacturing density. This installed base locks in service and replacement cycles that smaller rivals like LII struggle to match across global footprints.

  3. The main risk

    A debt-to-equity ratio of 0.86 paired with $10.3B of net debt leaves the balance sheet fragile if interest coverage falls below its current 3.9x level, threatening operational flexibility during downturns.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityWeak

Operating margin stands at 8.2% with an ROE of 8.9%, both tracking in the lower sector deciles. Scale fails to drive meaningful margin expansion here.

MoatFair

Switching costs anchor its installed base among building operators, though its gross margin sector percentile of 20 indicates limited pricing power compared to peers.

GrowthSlow

Revenue contracted 3.3% to $22.1B over the latest period, extending a cooling trend visible in historical annual summaries.

Financial healthWeak

Total debt sits at $11.8B against $1.6B in cash, while free cash flow of $1.8B supports ongoing obligations. The balance sheet is softening.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

No open market buys or unplanned sales by executives or directors.

Our sealed record on CARR

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is CARR a good business?

Carrier Global scores weak on the Cluenex quality check (3.3 of 10), measured against its own industry. Profitability is weak, moat fair, growth slow and financial health weak.

Are insiders buying CARR?

In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.

When does CARR report earnings?

Oct 29, 2026, before the open.

For members

See CARR today

  • Today's verdict on CARR, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Carrier Global (CARR)”, https://cluenex.com/stocks/carr/, data as of Oct 10, 2026.